PNB FD Scheme is a great and safe investment option that provides you guaranteed returns without any risk. If you want to increase your hard-earned money and are looking for a reliable scheme for investment, then PNB’s Fixed Deposit (FD) Scheme can be an ideal option for you. In this scheme, you get returns at a fixed interest rate, and it is completely safe and stable. Let us know how to invest in this scheme, what are its benefits and what are the interest rates.
What is PNB FD Scheme?
PNB FD Scheme is a type of savings scheme that gives you an opportunity to invest your money in a safe way. In this, you deposit your deposit in the bank for a fixed period and in return you get fixed interest.
The major advantage of this scheme is that your investment is completely safe in it and you get guaranteed returns. This scheme is very beneficial especially for those who are looking for risk-free investment.
What are the interest rates in PNB FD Scheme?
The interest rates under PNB FD Scheme vary, depending on your investment amount and tenure. PNB offers the following interest rates on its 3-year FD:
The interest rate for general citizens is 7%.
The interest rate for senior citizens is 7.5%, which offers an additional benefit.
Example of returns
Suppose you have invested ₹2 lakh in PNB FD Scheme:
- For general citizen: On investing ₹2 lakh, you will get ₹2,46,287, including interest of ₹46,287.
- For senior citizen: On investing ₹2 lakh, you will get ₹2,49,943, including interest of ₹49,943.
Why invest in PNB FD Scheme?
PNB FD Scheme is a risk-free investment, where you get guaranteed returns. Under this scheme, your money is safe and you do not have to worry that the volatility of the market will affect your investment. Especially when there are fluctuations in the stock market and mutual funds, PNB FD proves to be a stable and reliable option.
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How to invest in PNB FD Scheme?
Investing in PNB FD Scheme is very easy. For this, you have to go to the nearest PNB branch and open a fixed deposit account. There you will get an application form, which has to be filled and submitted along with the required documents. Also, you can choose the amount and time period of FD.
To invest in PNB FD Scheme, you will need these documents:
- Identity proof (Aadhaar card)
- PAN card (if your amount is more than ₹50,000)
- Income certificate (if your amount is more than ₹10 lakh)
- Photocopy of bank passbook
- Passport size photo
Option to withdraw FD before time
- If you need your money from PNB FD Scheme for any reason, then you can withdraw it before maturity, but there are some conditions for this.
- If the account holder dies, then the FD can be closed prematurely.
- If the account has completed 2 years 6 months (30 months), then also the FD can be withdrawn prematurely.
- However, some interest may be deducted on premature withdrawal.
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